Tag Archive: banking

With Bitcoin reaching record heights this week, more and more established financial institutions are taking an interest in its undeniable, and lucrative, appeal. However, mainstream banks are still hesitant. This week saw crypto enthusiasts enjoying the rollercoaster ride that is Bitcoin with the currency exceeding heights of $11,000, and dipping to lows of just under $9,500. Surging into the five-figure zone resulted in global headlines, and Bitcoin became the topic of conversation for both cynics

The paper check died a few years ago. Now, the savings account is inexorably approaching its death. Millennials, the largest living generation, are not interested in savings accounts managed by traditional banks. Instead, increasingly, millennials prefer to put their savings into Bitcoin. Millennials Are Starting to Put Their Savings into Bitcoin The three-thousand-year-old monetary system, and in turn the obsolete banking system, are becoming casualties of the cryptocurrency’s all-encompassing technological revolution. The millennial generation does

BANKEX, founded in 2015 by Igor Khmel, Ilham Hatypov, and Dmitry Dolgov, aims to meet the demand of improving asset liquidity using a proprietary Proof of Asset protocol designed to enable information to be passed in real time directly to and from the blockchain. [Note: This is a sponsored article.] This technology is transferring the information about an asset to the blockchain enabling fast transactions and avoiding cumbersome rules and regulations of a traditional stock exchange. By

Europian Union countries are exploring the idea of imposing an EU-wide account freeze measure to prevent potential bank runs. Could Bitcoin provide a viable alternative to secure depositors’ funds? Preventing the Chaos European Union states have proposed a new measure which would effectively allow them to freeze bank accounts before a bank run takes place. The measure was planned earlier this year in order to prevent bank runs similar to that of Banco Popular last

Recently the Italian government was forced to bailout 2 major banks for $19.4 billion, in one of its wealthiest regions. Roberto Ferrari, Chief Digital and Innovation Officer at Italy’s Mediobanca Group, believes that blockchain and fintech could have prevented this issue. The Bailout Two major Italian banks, the Banca Popolare di Vicenza and Veneto Banca were recently rescued by the Italian government. The European Commission approved the plan of the Italian government, to commit as much as

Venezuela Bitcoin exchange SurBitcoin has announced it intends to start operating once more within a week. Legal Bitcoin Exchange in ‘Around One Week’ In a statement on its Facebook page, the exchange, which was forced to close at the request of banking partner Banesco, said that the process of finding a replacement had taken “longer than expected.” “Based on the procedures carried out so far and the ongoing discussions with the bank’s management, it is

Peer-to-peer (P2P) cryptocurrency exchange provider Unichange.me has issued a statement explaining how popular bitcoin and crypto exchanges could improve their services by integrating smaller, P2P services. By providing these kinds of alternatives, the firm said, popular exchanges can achieve greater flexibility, making their customers happier. Disclaimer: This article is sponsored by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services. Unichange to Exchanges: Provide P2P Options

In the world of communication, Voice over IP – or VoIP – has made a significant impact on the world. This cheaper form of global communication through an Internet connection, allows users to interact with each other through various applications and devices. But in the financial world, Money over IP could become the next big thing. Distributed ledgers and data analytics will play an integral role in the process of automating the financial “back office”.

Sweden could soon be a big advocate of bitcoin. Also read: Visa: 2015 is the “Year Of Payments,” Bitcoin a Major Player Sweden: The Potential Bitcoin Economy In what could easily be the biggest “opening” for digital currency, Sweden is looking to swear off fiat money for good. That means no more paper money, no more coins, virtual means from here on out. This is exactly what Bitcoin and its creators have wanted all along for

A lot of people active in the world of Bitcoin, Fintech and blockchain business have almost no affinity left for banks and other traditional financial institutions. It has to be said, though, banks are facing a fair amount of challenges these days. Not only are there more competitors in the financial space than ever before, but internal changes are taking place as well, albeit at a slower pace than most people would like. Also read:

Bitcoin company Circle Internet Financial has completed a funding round of $50 million with help from banking firm Goldman Sachs and venture group IDG Capital Partners. Circle is also updating its core services to enable the transfer and storage of US dollars, which are insured by the FDIC and not subject to bitcoin’s volatility. These functions run parallel to Circle’s existing infrastructure and expand its scope of financial services. Also Read: Wall Street and Silicon Valley

Off Chain Bitcoin transactions are a highly useful innovation for Bitcoin. In such a transaction, a claim on an amount of bitcoin is sent from one person to another. No actual bitcoin gets exchanged, and the transaction is not recorded on the blockchain These kinds of transactions are beneficial because they can be made instantly, without waiting for miner confirmations, and without paying miner fees. Because of these characteristics, off chain transactions can make for

Editor’s Note, 1-21-2015: This article has been modified to fix a reporting inaccuracy. Previously, we stated that Netagio temporarily shut down due to Capital International Group ceasing banking relations with all Bitcoin businesses in the UK. We corrected the article, which now states that Netagio secured a new banking relationship 10 days after a two week notice was issued by CIG. Lastly, we updated the article to say that Netagio audited themselves; previously, we stated

When you look at Bitcoin, there will always be the one big obstacle that is so hard to overcome: building relationships with banks. Despite Bitcoin gaining massive media attention, and some of the world’s biggest companies now accepting Bitcoin as a payment method, the banks are still wary of this digital currency. But why is that, exactly? Many people attribute the “negative stance” banks have towards Bitcoin because of its decentralized nature. Add to